Auto Loan Calculator
Find your monthly car payment after your down payment, trade-in value and sales tax are factored in.
Monthly payment$618.59
- Amount financed
- $31,240.00
- Sales tax
- $2,240.00
- Total interest
- $5,875.37
- Total cost of car
- $40,115.37
Car payment by loan length
For a $32,000 car with $3,000 down, 7% sales tax and a 7% APR:
| Term | Monthly payment | Total interest |
|---|---|---|
| 36 months | $964.60 | $3,485.62 |
| 48 months | $748.08 | $4,667.87 |
| 60 months | $618.59 | $5,875.37 |
| 72 months | $532.61 | $7,107.99 |
| 84 months | $471.50 | $8,365.61 |
How it works
Sales tax is applied to the price minus your trade-in (how most US states handle it; check your state).
The amount financed is price + tax − down payment − trade-in, then the standard loan payment formula is applied.
Dealer fees, registration and title costs vary by state and aren't included.
Tips
- Get pre-approved by a bank or credit union before visiting the dealer so you have a rate to beat.
- Negotiate the car's price first, then talk financing.
- Long loans (72–84 months) make it easy to owe more than the car is worth.
Frequently asked questions
Is a longer car loan a bad idea?
A longer term lowers the monthly payment but raises total interest, and you can owe more than the car is worth for longer. Compare 60 vs 84 months above.
Results are estimates for planning only and are not financial advice.